Germany nominates Balz as Bundesbank board member - sources

Reuters Staff

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BERLIN, March 8 (Reuters) - Germany’s Bundesrat upper house of parliament has nominated centre-right European lawmaker Burkhard Balz as a new board member of the central bank, party sources said on Thursday.

Balz will succeed Bundesbank board member Andreas Dombret who is in charge of banking regulation and whose contract expires end of April, the sources said.

Balz, a 48-year old trained banker and lawyer, is a member of Chancellor Angela Merkel’s conservative Christian Democratic Union (CDU).